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On Friday night, Shanghai aluminum continued to fluctuate and rebounded
.
Last week, the slight recovery of aluminum ingot social inventory triggered long positions to reduce positions and leave the market, but the current consumption has not weakened significantly, and the inventory inflection point is still to be confirmed, pay attention to today's inventory performance
.
After the sharp fall of Shanghai aluminum, the structure of spot premium and monthly difference has not changed, the bullish trend has not yet reversed, and the pullback to buy to earn monthly benefits or can still participate
.
In the market, the price of Chinalco East China AOO aluminum ingots was 16630 yuan / ton, down 200 yuan
.
The aluminum inventory of the previous period decreased by 6,041 tons to 214332 tons last week, and the social inventory of aluminum ingots accumulated slightly, and the total inventory was still at a low level overall; China's economy continues to improve, supporting industrial production and consumption, and spot aluminum prices are expected to rise
today.
In terms of fundamentals, last Friday's domestic social inventory increased by 10,000 tons from Monday and returned to more than 600,000 tons, the overall inventory level of the city is still low, but the end of the year to the first quarter of next year consumption is likely to cool down, inventory is expected to gradually increase, in addition to the medium-term supply increase trend is also worth paying attention to
.
It is expected that aluminum prices will face adjustment in the short term, and the operation will be
dominated by high test shorts.
